Answer
q Signed as part of the Uruguay Round Agreement in April 1994.
q Came into force w.e.f 1 January, 1995. Had 10-year implementation period
from 1995 to 2004, for developing countries.
q Covers three broad areas of agriculture and trade policy:
Ø Market access, No restriction on farm trade except Tariff
Ø Domestic support and Green Box , Amber Box, Blue Box
Ø Export
Subsidies- Required developed countries to reduce
export subsidies by at least 36% (by value) or by at least 21% (by volume) over
the five years to 2000.
Ø India is
under no obligation to reduce domestic support or subsidies currently extended
to agriculture as the support being given is well below permissible level of 10
per cent of the value of its agricultural output.
Ø India
were permitted to offer ceiling bindings instead of tariffication since India
was maintaining QRs on Balance of Payment grounds.
Ø Anticipated
increase in exports of agri-products has not materialised
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